August 6, 2014 – SNC-Lavalin has signed a memorandum of understanding (MoU) with the China National Nuclear Corp. (CNNC) to jointly develop and pursue power generation, mining and metallurgy and nuclear-related environmental protection projects.

“These projects have the potential to generate billions of dollars for the Canadian and Chinese economies while supporting China’s growing demand for energy,” said Preston Swafford, SNC-Lavalin Group’s chief nuclear officer, and president & CEO of Candu Energy Inc. (SNC-Lavalin’s wholly-owned subsidiary).

Under the agreement, SNC-Lavalin will work with CNNC to develop reactors using advanced fuel CANDU (AFCR) technology in China. AFCR technology uses both recycled uranium- and thorium-based fuels to deliver “high-performing reactors with strong environmental benefits”.

The MoU also provides a framework for collaboration between SNC-Lavalin and CNNC on uranium mining projects in China, and the pursuit of international project opportunities in various high-growth sectors and markets.